I'm finishing my taxes, and something seems wrong. Total income is $93,093, deductions are $54,593, taxable income is $38, 500, blended tax rate is a whopping 61.3%, yielding a tax liability of $23,587.
Can anyone suggest what may have gone wrong, or explain why this would be correct?
It also shows me getting a refund of about $3,000 on my state return.
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Did you have by any chance have self-employment income? If yes you will have to pay self-employment tax, please look at Schedule 2 line 4.
To preview Schedule 2:
Actually, the largest part of it turned out to be related to health insurance marketplace payments.
Thanks!
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